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Difference between traditional & social media

This is the difference between traditional and social media in one simple chart (albeit a little fuzzy). Forget all the crap you have read on how social media differs to traditional media. This is it summarized right here on startup blog in terms which matter for business:

I’ve made some notes above. Don’t believe what you’ve heard – old media isn’t dead – sure it’s more expensive for the return, but it still kicks but. When rentoid was featured on a nightly news TV show as a positive story, we had more hits that one day than we did for the entire year. And we had been and are investing a tremendous amount of time on new and social media. It’s been a two year effort.

If you want a few other qualitative ideas to take with you then here’s a few:

They work better together

Social media is incredibly slow but has a compound effect

If I had endless funds available for media, I’d still prefer traditional media (for now)

These comments are based on fact and real experience in Australia from my business rentoid.com which has had heavy exposure in both.

I am saying that proliferation and fragmentation will continue to increase forever. This will happen for 2 simple reasons:

1. The tools are cheap or free. Anyone can publish digital content, create media. The barriers to entry are gone forever. These barriers to entry (cost of equipment & broadcasting licenses) protected media giants in all countries. Now we can compete against them with ‘specific content’ not general content for all.

2. Markets are being redefined into a mass agglomeration of niches. For example startup blog live would never be a TV show, too niche. But it took away 50 eyeballs last week, who 10 years ago would have been watching TV. Then multiply this by the 10 million other people doing shows like this on micro topics every day.